Blackstone has won planning permission to build a 1.2m sq ft film studio in Hertfordshire.
The world’s largest alternative asset manager, which has partnered with US studio specialist Hudson Pacific Properties, will start construction work on Sunset Waltham Cross Studios next year.
The 91-acre site at Broxbourne, Hertfordshire, will open as one of the UK’s largest film and television studios by the end of 2025.
Blackstone’s Sunset Studios jv paid £120m for the 91-acre site last year. The studio complex is expected to cost around £700m. Blackstone says the studio will create more than 4,800 jobs and contribute more than £300m annually to the local economy.
The scheme includes 21 sound stages totalling 470,000 sq ft, with 50ft clear heights, 420,000 sq ft of workshop and mill space, and 250,000 sq ft of stage-adjacent production office and support space, as well as abundant amenity, basecamp and backlot spaces.
James Seppala, head of Blackstone Real Estate Europe, said: “We would like to thank Broxbourne Council for its valued input, and we are excited that our expanded partnership with Hudson Pacific will deliver a world-class studio facility to be used by home-grown and international talent.
“Sunset Waltham Cross Studios will be a world-renowned hub for content creation and creativity that will help assert the UK’s role as a premier destination for creating entertainment and is yet another demonstration of our commitment to investing in the UK.”
Sunset Waltham Cross is intended to be one of the greenest studios in the world, targeting LEED Gold certification and a BREEAM Excellent rating, which would put the development in the top 10% of buildings in the UK in terms of its sustainability performance.
Energy efficiency and biodiversity are also being treated as central to its design and development. The intention is that, once operational, sustainability initiatives will help to lower the carbon impact of every production filmed at the studio.
Sunset Waltham Cross will also feature more green and open space than any other major studio in the UK.
Sunset Waltham Cross is Blackstone and Hudson Pacific’s first expansion outside the US for its jointly owned Sunset Studios, which now comprises five facilities and more than 60 stages.
Victor Coleman, chairman and chief executive of Hudson Pacific, said: “We are thrilled that in less than a year since we announced this exciting expansion of our relationship with Blackstone, we are ready to begin site work with the ability to start construction next year.
“With demand for state-of-the-art studio space rising globally, this 21-stage project will bring much-needed supply to one of the fastest-growing media markets in the world, leveraging our development and operational expertise along the way.
“Importantly, the project will result in the creation of more than 4,800 jobs in the local community, and we are taking a highly sustainable approach, which is central to Hudson Pacific’s and Blackstone’s core values.”
To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews
Click here to view other planning applications in Hertfordshire >>
